A cash basis landlord makes new tenants pay first and last month's rent at the start of the lease. How does the landlord report the following:

Purple Corporation, an exterminating company, is a calendar year taxpayer. It contracts to provide service to homeowners once a month under a one-, two-, or three-year contract. For financial reporting purposes, Purple reports the income ratably over the months of the contract. On April 1 of the current year, the company sold a customer a one-year contract for $120. How much of the $120 is taxable in the current and subsequent years if the company is an accrual basis taxpayer? If the $120 is payment on a two-year contract, how much is taxed in the year the contract is sold and in the following years? If the $120 is payment on a three-year contract, how much is taxed in the year the contract is sold and in the following years?

-Pink, Inc., an accrual basis taxpayer, owns an amusement park whose fiscal year ends September 30. To increase business during the fall and winter months, Pink sold passes that would allow the holder to ride “free” during the months of October through March. During the month of September, $6,000 was collected from the sale of passes for the upcoming fall and winter. When will the $6,000 be taxable to Pink? 


-The taxpayer is in the office equipment rental business and uses the accrual basis of accounting. In December he collected $5,000 in rents for the following January. When is the $5,000 taxable?

FORMING COMMITTEES

You are the chairperson of a large IS Committee in charge of implementing a new EHR. The committee is so large that you are not getting anything done.   For example, you met for 4 hours yesterday and only got through 3 of the 15 items on the agenda, because everyone wants to have his or her say on each issue.   The committee make-up is as follows:

Project leader

HIM Director

Vice President, Finance

Vice President, Clinical Services

Chief Information Officer

Director, Lab

Director, Radiology

Four computer programmers

Vice President, Nursing

Two vendor representatives

Director, Cardiopulmonary Services

Director, Materials Management

Director, Research

Three systems analysts

Two database administrators

Director, Training

The decision has been made to create subcommittees.   The subcommittees will be:

Training

Data Management (data quality, data collection, and data retrieval)

Development (programming, customization)

Conversion

Interfaces

All representatives should be on at least one subcommittee.

Who would you place on each subcommittee?   Why did you choose them? What charge would you give to each subcommittee?

McCuen, C., Sayles, N. B., & Schnering, P. (2008). Case Studies in Health Information Management. Clifton Park, NY: Thomson Delmar Learning, pp. 366-367.

I'm not sure if this is a good issue statement for short case study. Thanks for the help!

An American multinational widely diversified media and entertainment organization, Disney Company which started their journey from 1923 are now recognized as one of the most successful enterprise in the century. Bob Iger who has lead the company with his magical, yet fundamental and strong business strategy to overcome the barriers that Disney faced in the last ten years in his career as a newly appointed CEO from 2005. One of the main issues that Disney faced entered from the mass diversification and acquisition while expanding their business firms into three main divisions, Walt Disney Parks and Resorts, Disney Media Networks, and Disney Consumer Products and Interactive Media. The main issue in this process was the inability to maintain a neutral and open behavior and lack of communication in team based works. Two external environmental factors involved in diversification process are analyzed in the report; political as in dealing with local government where Disney expands their theme park in other countries and technological factors that is required to produce content that satisfies customer demand as well as producing high quality content. Understanding these issues and implementing preventative tools will seize the misleading of the company for the next ten years. Other possible issues and external environment factors are considered as out of scope in this report.

J. Wellington Farquhar IV gave gifts to the following recipients this year:

A vacation home in the Hamptons to his wife, Becky, valued at $3,800,000.

An Asten-Marten automobile, worth $175,000 to his daughter, Amber, as a law school graduation present.

$160,000 cash to his son, J. Wellington V, for his birthday.

A Central Park West condominium, worth $2,600,000, to his daughter, Muffy, as a wedding present.

$35,000 to each of his 13 nieces and nephews.

$520,000 to his brother, Aloysius.

$410,000 to his sister-in-law, Mabel.

$775,000 to the American Red Cross, a qualified charitable organization. (Note: Charitable Contributions are fully deductible net of the annual exclusion.)

$271,000 to Hunter College, his alma mater.(Note: Charitable Contributions are fully deductible net of the annual exclusion.)

In addition, he had previously given taxable gifts in previous years amounting to $495,770, in which he had previously paid $138,026 in gift taxes, and claimed previous unified credits amounting to $52,410.

Required: Calculate the following:

1) J Wellington’s net taxable gifts this year

2) His tax base

3) The tax liability on his tax base

4) The tax liability on his prior gifts at current rates

5) His current year’s tax liability

6) His remaining unified credit, if any

This is to be submitted in class on Thursday.

A corporation operates snow sports facilities in Canada. The corporation has an opportunity to lease a location in the mountains for 10 years for $60,000 per year to open a new snow sports location. They will also have access to trails in the provincial park at an additional cost of $24,000 per year for trail maintenance. To secure the lease they paid a non-refundable deposit of $10,000 last year. The corporation will be required to purchase snowshoes, cross-country skis and other equipment for an estimated amount of $275,000. The equipment is depreciated on a straight-line basis over 10 years. They also estimate that they will need to spend $25,000 to renovate the interior of the building at the start of the lease. In addition, management has provided the following information regarding the expected future annual earnings and expenses of the new project:

The appropriate discount rate for the project is 10%. Ignore taxes.

Calculate the annual incremental operating cash flow of the project using the year 1-10 cash flows only.

Incremental annual revenue = ?

Incremental annual costs = ?

Incremental annual operating cash flow = ?

NPV = ?

QUESTION 12

1. The sociologist "_________________________ _________________" believed that as the United States continued to modernize, urbanize, and industrialize, race and ethnicity would gradually lose their importance, allowing the boundaries between groups to eventually dissolve. He thought the result would be a more "rational" and unified society.

   	a.	Milton Gordon
   	b.	Robert Park
   	c.	Karl Marx
   	d.	Max Weber
   	e.	None of the above.

QUESTION 13

1. According to Wagley & Harris (1958), a minority group has five characteristics. Which of the following is NOT one of the characteristics they emphasized:

   	a.	Lack of self-awareness
   	b.	Intimate relationships
   	c.	Inequality
   	d.	Ascription
   	e.	Visibility

QUESTION 14

1. True or False: Mass immigration from Europe to the United States beginning in the 1820's had a number of causes, but underlying the process was a fundamental shift in subsistence technology: the industrial revolution.

   True

   False

QUESTION 15

1. The process by which European (white) ethnic groups unintentionally affected one another's position in the social class structure of the larger society.

   	a.	Symbolic ethnicity
   	b.	Ethnic succession
   	c.	Segmented assimilation
   	d.	White ethnicity

QUESTION 16

1. True or False: Gender equality is generally highest in the industrialized nations of North America and Western Europe and lowest in the less developed, more agricultural nations of sub-Saharan Africa.

   True

   False

Question 7

Acid rain is an environmental challenge in many places around the world. It refers to rain or any other form of precipitation that is unusually acidic, i.e. rainwater having elevated levels of hydrogen ions (low pH). The measure of pH is a measure of the acidity or basicity of a solution and has a scale ranging from 0 to 14. Distilled water, with carbon dioxide removed, has a neutral pH level of 7. Liquids with a pH less than 7 are acidic. However, even unpolluted rainwater is slightly acidic with pH varying between 5.2 to 6.0 due to the fact that carbon dioxide and water in the air react together to form carbonic acid. Thus, rainwater is only considered acidic if the pH level is less than 5.2..

In a remote region of Algonquin Park, a biologist measured the pH levels of rainwater and obtained the following data for 16 rainwater samples on 16 different lakes:

Is there reason to believe that the is considered acidic (less than 5.20)?

Use the Sign Test to test the claim at 95% confidence that the rainwater from this region has a median pH level less than 5.20.

a) State the Hypotheses (1)

b) State the decision rule (1)

c) Determine the test statistic (1)

d) State your decision and interpretation. (1,1)

HR Slugger is a professional baseball player in a Major League Baseball league. He is a well-known player and is very popular throughout the league, but especially with the local fans. Much of his population is based on his hitting ability, specifically regarding home runs. The issue emerges from the following facts, similar to an actual situation you may have heard of.

• After days of intense anticipation by sports fans and winters throughout the league, Slugger hits a home run that brakes the record for total home runs during a regular season. The record broken had been in place for 45 years. This is a major event in MLB.

• The homerun ball was hit out of the ball park. It was actually caught outside the playing field by a 14-year-old girl who is, along with her parents, a big fan of HR Slugger and the team.

• League policy is that in such a situation, the ball belongs to the person that obtains the ball.

• Given the circumstances (a long-term home run record broken), the subject ball is immediately very valuable. Estimated value could be $5000,000-$1,000,000, possibly more.

• The girl and her parents are very proud of the catch and plan to add the ball their sports memorabilia to be treasured for years to come. As it happens, the parents are clients of yours, and they come to you for advice.

Issue: Does the event described result in any kind of tax issue?

What is your advice to them?

Include factual/legal analysis, including authority for a conclusion.

On a late May afternoon in 1984, a fire broke out in the “Haunted Castle” attraction at the Great Adventure Park in Jackson Township, New Jersey (Figure 4-1). Eight teenagers became trapped in the haunted house and subsequently died in the blaze. The maze-like “building” was actually a set of 17 interconnected truck trailers; guests walked from one trailer into the next. The dark walk-through haunted house included a variety of fright-provoking scenes, live actors, and a “strobe room.” Plastic polyurethane foam was used in decorations in various areas of the attraction. Plywood partitions were also present throughout. The structure did not have a fire alarm system or a fire sprinkler system. There were no specific regulations for “haunted houses” in the building and fire codes of New Jersey or the rest of the nation at the time of the fire. In the wake of this incident, action on the part of the state of New Jersey was swift. The state’s building and fire codes were changed to include fire alarm systems and sprinklers. These regulations were quickly adopted nationally. Today, these “special amusement” buildings require a fire alarm and detection system, full sprinkler protection, a public address system, low-level exit signs, and a Class A rating for all interior finishes. 1. Why does it often take a tragedy to change our building and fire codes? 2. What are some other fires in the past that have led to changes in our fire safety regulations?

4. The Transactional Records Access Clearinghouse at Syracuse University reported data showing the chance of an Internal Revenue Service (IRS) audit. The data in file IRSAudit.xlsx show the average adjusted gross income reported (in $ thousands) and the percent of the returns that were audited for 20 selected IRS districts.

1. Use XLSTAT to create a scatterplot with average adjusted gross income reported on the horizontal axis and percent of the returns that were audited on the vertical axis. Include the fitted simple linear regression line on the plot and include the plot in your answer. What does the scatterplot indicate about the relationship between the average adjusted gross income reported and the percent of the returns that were audited?

Hint: Select Visualizing data > Scatter plots, select cells B1:B21 for X and select cells C1:C21 for Y. Click “Options” and check “Regression lines.”

2. Use XLSTAT to estimate a simple linear regression model using least squares. Report the estimated regression equation that could be used to predict the percent audited given the average adjusted gross income reported.

Hint: Select Modeling data > Linear regression, select cells C1:C21 for “Y / Dependent variables: Quantitative” and select cells B1:B21 for “X / Explanatory variables: Quantitative.”

3. Is there a significant linear relationship between the two variables based on a significance level α=0.05α=0.05?

Hint: You can use either a t-test or an F-test to answer this question. In your answer state the hypotheses, test statistic, p-value, decision, and conclusion.

4. Use the estimated regression equation to predict the percent audited for a district with an average adjusted gross income of $35,000.